Looking for strength Indicator

helo Hanover, follow your instructions :

Copy the .mq4 file attached to post #35 to your .../experts/indicators folder, and both .mqh files in post #38 to your .../experts/include folder. Then restart MT4.

YES..Success , YOU ARE THE BEST.

I'm glad that it works for you now.

Approx 3 years ago David very kindly coded this indicator for me.. Currently I cant get it to work on a Windows 7 system..... MT4 build745...
Has anyone got any ideas on how to get this to work ?.. Also Would someone be able to change the 60 LWMA high/low to a 55 EMA high/low..

Details for loading are here at post #23

I would really appreciate any input..

Many thanks Ja..

Tried compiling it for you, 0 errors but 58 warnings.

Hey shabs thanks for compiling..when you say 58 warnings...warnings for what ? for the coding ?

I do appreciate any input ...

Cheers Ja.

j4d maybe this strength meter site could be useful

http://megatrendfx.com/additional-fo...eter-indicator

Hey Kraven....I'm kinda set in my ways now.. gaining transparency in money flows through the signal of strength-weakness in price being above or below moving averages is what I now trust so I'm really looking to get the indicator working again..

I'm sure the link in your post is cool but I'm looking to fix rather than adopt...... but thanks for posting..

I have changed it to 55 Ema, it should work as the ex4 file in MT4.

The warnings are shown in the screenshot.

thanks for the work shabs i appreciate it... you'll have to excuse me as Im next to useless with MT4 code.. what do the warnings stand for, do they mean
anything ?

Just try it & see if it works as you wanted it.
The new language is causing all these warnings. They may not affect the end result.

Okay I see.. I'll see how it performs..

thanks again for your attention..

cheers

Ja.

J4, sorry, just saw your post now.

Attached .ex4 should work correctly, just be sure to delete any associated .mq4 file before you restart MT4 (that's the reason for the 58 errors).

MA period can be set to anything you wish (60, 55, ....), via the MAperiod parameter setting.

David

Hey David the addition of multiple MA choice is a nice touch as i would certainly use the 20 ma setting for some situations.. If I could buy you and shabs a pint I would do...

Thank you for the indicator and your attention for the adjustments .

cheers

Ja..

Is it possible to make the indicator work with Indices as well ?... without to much hassle ... I appreciate the requests you must get to code must get a little to much at times so no worries if not..It would be nice though as FX is so highly correlated with Indices


Thanks for your time already David..

Ja

If anyone is interested, below are the settings I use.... I think the Indicator works best with a solid line in the sand that defines the strong and weak. Obviously consolidation periods can blur sentiment but in general these settings work for me..

Ja,

The ability to select the MAperiod and MAtype has always been there. I didn't make any changes to the code, in post #52 I merely reattached the .ex4 file.

Re indices:

1. With currencies, the indy is averaging the MA-based value across all relevant pairs. For example, to get the CHF value, it is calculating and then plotting a weighted average of all CHF-based pairs, i.e. AUDCHF, GBPCHF, USDCHF, CHFJPY, etc. I don't know how to make this work with indices, since each index is not part of a pair, e.g. obviously there is no FTSE/NASDAQ pair. Hence it would need to work differently, but how?

2. Were you thinking of plotting both currencies and indices on the same chart? If so, I'm not sure that it would be a meaningful comparison.

3. There are 8 major currencies, but a lot more indices, hence the histograms (and the necessary color selection) would become much wider, consuming more screen space.

4. My br0ker doesn't provide indices, hence I wouldn't be able to conduct any testing, even if I made any modifications. Which br0ker are you using?

Your thoughts?

In any case, I'm planning on having a rest over Xmas/New Year, and after that I'm busy through until maybe Feb/March.

Compliments of the season to you,
David

Send you PM

Hey David.. thanks for the time to reply.. Its diffiult for me to understand the complexities of changing the indicator into one that gives the output for Indices being that I dont understand MQ code, so for me to grasp how to migrate this into a single instrument I can only appologise for my lack of understanding .. Its probably best if I explain what I do already and if you or someone has some time in the future to come up with something that would be great... but if it doesn't happen thats cool, Ive been filling in spread sheets for years so I'm completely at ease with carrying on this ritual..

Simplicity is the key word for me with all parts of market participation and to agree and understand that my spread sheet has some value means you kinda have to sign up to my Philosophy in how I look at the markets and we both know there are infinite ways to approach this game but all very personal..So this is only my view...

As I want to follow the larger institutional traders so I believe in the Moving average language of simplicity. The spread sheet below shows whether an instrument is below or above the 55 EMA. I know at an institutional level the 50~60 ema's are heavily used so I settle with the 55 ema as my line in the sand. In Indices... If price is above in all time frames we could construe this as a very risk on environment....If though all the Major Indices together dived below the 55 ema In H4 like they did on the 8th of Dec this can be a very good "tell" that risk is moving back into cash or safer assets and with the buying in CHF and JPY etc being heavy this would make sense..... If all Indexes moved below the 55.... except say the Nikkei ( a laggard ) this might be a very decent "tell" that if the market flips to risk on the Nikkei would be the Index to go long and that the JPY is the most fragile while being heavily bought.. I believe at this moment the Indices are the lead and currencies lag ( in general ) but thats only my humble opinion.. So the importance of correlations is very strong for me.

if an instrument is above the 55 ma in a certain time-frame I mark it as stronger, below the 55 its marked as weaker..I appreciate consolidation periods which will chop through the 55 but I'm happier not to try and forecast but just to register the current price position..





Below is the NZD against the majors , if my belief is to be correct the NZD has a rating of 3 out of 7 in H4 because it is stronger than 3 other currencies..





So how do we interpret the Indices into a live Indicator ?... I'm not sure...lol..


David, thanks for your input already and thanks for the PSA Indicator its now standard issue in my dashboard ...

I hope you have a great Xmas and a very happy New year and if your like me try not to eat to much Port and cheese ..

Cheers Ja..


Edit: Broker is Oanda..



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can someone help? i just can't seem to find anyone of these indicator in my MT4 platform